Trade view /
10 August 2016 at 9:55 GMT
The original trade view
expected additional USDCAD selling as the impact of the strong US employment report faded and from a bounce in oil prices. Both events occurred but USDCAD continued to decline despite WTI prices retreating from Tuesday's peak of $43.50.
The US dollar came under renewed pressure in part because of weak US productivity data and dovish comments from the Fed's Jerome Powell, but mostly do to profit taking in a thin market.
Nevertheless, the profit target was achieved and the trade closed for a gain of .0095 points.
Note: The second sell order was never filled.
Entry: sell ½ USDCAD at market (currently 1.3145 balance at 1.3190.
Time horizon: Four days.
— Edited by Clare MacCarthy
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